I had never heard of Marketocracy.com
before the LinkShare Summit, but the keynote speaker mentioned it in passing so I looked it up. I'm impressed!
Basically, it's a community where people can manage their own virtual mutual funds for free. They have over 50,000 people running virtual funds.
But here's where it gets interesting. They keep track of the best investors, and once a month they select the top 100. They have an algorithm that tries to pick the truly good investors rather than just the ones that happened to be lucky. They consolidate those 100 top portfolios into a single portfolio (which they call the m100) once a month, and that portfolio has outperformed the general market by a fairly good factor. They offer a mutual fund (MOFQX) which uses that consolidated portfolio.
I'm a huge fan of algorithmic investing (another algorithmic fund I like is HFCGX), and this is certainly fits the bill. To me, it's like having 50,000 investors researching ideas and automatically investing the way the 100 best ones would invest.
I'm always looking for places to invest (no, please don't spam me), and I figure there are others here who do the same.